Hey everyone, Appreciate the info Looking for exposure to...

Hey everyone,

Appreciate the info

Looking for exposure to tungsten assets and currently doing DD on EQR

Great to see Mr Kevin MacNeill (CEO) took the opportunity to start production concurrently with feasibility studies.

Unusual approach but clearly taking advantage of high tungsten spot price and opportunity.

Unfortunately It has been a below average quarter due to rain but hopefully improve next quarter.

I was surprised that the market barely reacted to the news of the $6M grant

Can anyone confirm if the $6M is assigned to specific milestones of the project? Or is it available for opex.

The reason I ask is,

Todays Quarterly announced that ' Estimated quarters of funding available - 0.6. '

This generally means the company will require additional funding in short term.

As production revenue is split 50/50 with JV and

'Cash receipts from customers totalled $0.822 million (compared with $1.209 million in the previous quarter)
representing EQR’s 50% share of tungsten concentrate sales for the quarter of $1 million with the balance of
the inflow generated from numerous quarry contracts.

The lower quarterly revenue was predominantly due to the wet season impact on production activities during the quarter.'

I know people don't like to hear this but is a Credit raise (CR) expected in the short term?

If there is a CR I would be interested in participating

I hope not, but can anyone explain where additional funds will come from before cash runs out?

Thanks in advance